Entain (GB:ENT) stock fell hard today after the sports betting company’s CEO, Gavin Isaacs, unexpectedly stepped down. It’s unclear why Isaacs left the company, but his departure is immediate with non-executive Chairman Stella David taking over as interim CEO until a permanent replacement is found.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
It’s worth highlighting that Issacs was only in the CEO role for five months before his departure. He was named the next CEO of Entain in July 2024 and took that position in September of the same year. Now that he’s stepped down, David returns to the interim CEO role, which he held from December 2023 until Isaacs joined the company.
What This Means for ENT Stock
Today’s news is a major blow to ENT stock, dropping the gambling company’s shares by 10.51% as of this writing. This greatly extends the company’s year-to-date loss of 3.29% and 52-week drop of 33.09%. It also comes alongside heavy trading as 4.07 million shares have changed hands today, compared to a three-month daily average of 2.26 million units.
It makes sense that ENT stock is down today alongside the CEO departure news. The short time Isaac held the role and lack of reason for stepping down has shaken investor confidence. It’s an especially bad blow as investors were hoping for a turnaround under Isaac’s leadership after nearly a year of waiting for a new CEO.
Is ENT Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Entain is Moderate Buy based on four Buy and two Hold ratings over the last three months. With that comes an average price target of 956.67p, a high of 1,140p, and a low of 800p. This represents a potential 44.01% upside for ENT stock.
